An example of this is William & Mary. The school saw an increase in applications across the board at all of their schools this year. Looks like we'll be getting more visitors and followers to our blog in the next few years if this is the forecast for what is happening at most schools. There is no way in hell the economy will improve in three years to give the millions of us out of work now and the thousands planning to graduate in the next three years a full-time job. Not gonna happen.
The William & Mary Law School saw a 26-percent increase in applications to the J.D. program, receiving nearly 6,300 applications for slightly more than 200 seats in the Class of 2013. The Law School joins the Office of Undergraduate Admissions as well as other graduate and professional programs at the College in reporting significant increases in applications for next year's incoming classes.
The School of Education is reporting an increase of more than 20 percent in graduate applications. Admissions officials in graduate programs in Arts & Sciences also report an increase of eight percent compared to last year. At William & Mary's Mason School of Business, applications to the MBA program are up 12 percent compared to the same time frame from last year.
"Whether its graduate and professional programs or undergraduate studies, we're delighted that so many people want to join us at William & Mary," said President Taylor Reveley.
This news from the graduate programs comes a few months after admissions officials reported that undergraduate applications topped 12,500, a record number for the fifth year in a row.
I don't know where William & Mary is ranked in USNWR and I really don't care. I think it's a T1 institution and it looks like a lovely place to spend a few years, but that's besides the point. All anyone needs to know for the next ten years is that any institution outside of the T14 probably isn't worth the gamble. When T14 graduates are graduating without any job offers, one can make an educated guess that the majority of graduates outside of the T14 will not get a good return on their three year investment, meaning they will not find a biglaw or government job to pay off their six figure debt. The only exception to this are students who have connections to get a job or rich parents paying their tuition.
Then I came across this story at WalletPop about a 36-year-old husband, father, and business graduate who left his lucrative and intellectually stimulating investment banking job to attend Cardozo Law in 2007. Now he is graduating with no job offer other than an internship which he thinks will lead to a fulfilling long-term career in the law. Good luck with that.
When I got a job at an investment bank right out business school, I was brought in to analyze the impact of Napster on the music industry," recalls the 36-year-old. "That was a fascinating topic. The discourse going around this -- how is culture made, disseminated and controlled -- fascinated me."
By 2007, he started at Benjamin N. Cardoza School of Law in Manhattan at a cost of $40,000 a year. While he remains as enamored of the field as before, finding a balance between being a fulltime student, a husband of eight years and a dad of now three kids has been tough. From morning until night, "it's always a balance act that I usually fail but I try to hold up my end as much as possible," he said.
It's become even harder since 2009. To the surprise of many, the legal profession has been hit hard by the economic meltdown. Law school graduates have had to scramble to find jobs. To improve his chances, Abramowitz, president of the Intellectual Property Society from 2008-09, held an internship last fall and is working in another this spring.
"A lot of firms are not hiring straight out of school," he explains. "[With internships] they want to build a certain amount of trust in you and they want you to be more familiar with their operations and systems so if they do take you on full time, you're ready to hit the ground running. And they don't have to extend time paying you and training you at the same time."
Set to graduate in June, Abramowitz remains optimistic that all his planning will provide a solid foundation for his family. "The goal is to build something for the long haul, for 30, 40, 50 years -- something that is fulfilling for me and something that is sustainable and supportive of my family," he said. "If one or two years or three years are a little rocky, OK. Hopefully you end on the plus side of the ledger."